Menifee CA 92584 Real Estate Market Report for February 2026
By Legacy Homes Realty | Published February 21, 2026 | Real Estate Blog
If you own a home in Menifee or you have been thinking about buying one, February 2026 brings some genuinely useful news. The local market has not crashed. It has not exploded. What it has done is settle into a clear pattern that favors sellers without completely shutting buyers out. This report walks through exactly what the numbers say, what they mean in plain language, and what you should be doing right now whether you are buying, selling, or simply keeping an eye on your biggest investment.
The Big Picture: Menifee CA 92584 in February 2026
The median list price for single-family homes in Menifee CA 92584 is $650,000 as of February 21, 2026. That number has held relatively steady for the past year and a half, forming what market analysts call a plateau. Prices are not falling, but they are not racing upward the way they did in 2021 and early 2022 either. The question on everyone’s mind is whether that plateau holds or whether prices start climbing again. The current data leans strongly toward the latter.
The Market Action Index (MAI) is now at 44, up from 40 just one month ago. The MAI measures how quickly homes are selling relative to available inventory. Any reading above 30 indicates a seller’s market. At 44 and rising, Menifee 92584 is firmly in seller’s territory, and the trend is accelerating. According to Altos Research, which tracks real-time market data across the country, the current conditions in this zip code point toward growing upward pressure on prices if nothing changes.
“Home sales continue to outstrip supply and the Market Action Index has been moving higher for several weeks. This is a Seller’s market, so watch for upward pricing pressure in the near future if the trend continues.”Altos Research Market Narrative, February 21, 2026
For buyers and sellers in Menifee, that is a meaningful signal. It does not mean panic-buying or panic-selling. It means that if you have been waiting for the perfect moment, that moment may be closer than you think.
Full Market Snapshot: Menifee CA 92584 Real Estate Statistics
Here is the complete picture for the Menifee 92584 single-family home market as of February 21, 2026.
| Market Metric | Current Value |
|---|---|
| Median List Price | $650,000 |
| Median Price of New Listings | $698,000 |
| Price Per Square Foot | $288 |
| Average Days on Market | 89 days |
| Median Days on Market | 53 days |
| Listings with Price Reduction | 34% |
| Listings with Price Increase | 1% |
| Relisted Properties | 9% |
| Active Inventory | 164 homes |
| Median Monthly Rent | $3,299 |
| Market Action Index | 44 (up from 40) |
| Market Condition | Slight Seller’s Advantage |
A few of these numbers deserve a closer look. The fact that 34% of listings have had a price reduction might sound like bad news for sellers, but it tells a more nuanced story. It means sellers who entered the market with overly optimistic pricing had to adjust. Sellers who priced correctly from the start are selling without reductions. One of the most valuable things a good agent does is help you avoid that first painful correction by nailing the price on day one.
The gap between the median list price at $650,000 and the median price of new listings at $698,000 also tells you something. Fresh inventory is coming in at a premium, which suggests sellers entering the market today have confidence that buyers will pay more than what older listings have been asking. That gap is usually a leading indicator of where prices are heading.
Menifee Home Price History: What Happened From 2021 to Today
To understand where the Menifee market stands right now, it helps to understand how it got here. The journey from 2021 to early 2026 covers a complete market cycle, and knowing that history makes the current plateau a lot less confusing.
The 2021 Run-Up
In mid-2021, the median list price in Menifee CA 92584 was hovering around $450,000. That already represented years of steady appreciation. Then something remarkable happened. Pandemic-era migration patterns, remote work flexibility, and historically low mortgage rates all converged at once. Southern California homebuyers who had been priced out of coastal markets looked inland. Menifee, with its newer housing stock, good schools, and easy freeway access, became a top destination.
From mid-2021 through early 2022, the median list price in 92584 climbed from roughly $450,000 to somewhere near $720,000. That is a gain of close to 60% in less than 12 months. It was extraordinary, and it was not sustainable.
The 2022 to 2023 Correction
When the Federal Reserve began raising interest rates aggressively starting in spring 2022, mortgage rates doubled almost overnight. Monthly payments on a $700,000 home jumped by hundreds of dollars, and a significant portion of the buyer pool got priced out. Demand fell, inventory built up, and prices in Menifee pulled back from their highs. By late 2022 and into 2023, the 90-day median was settling into the low-to-mid $600K range.
This was a healthy correction, not a collapse. Menifee never saw the kind of distressed selling that characterized the 2008 downturn. Homeowners had equity. The fundamental demand for housing in the Inland Empire remained intact.
The 2024 to 2026 Plateau
Since 2024, the Menifee market has been in a consolidation phase. Prices have moved in a relatively tight band between $620,000 and $670,000, which is exactly where they sit today at $650,000. Altos Research describes this as a plateau, and their commentary is direct about what needs to happen for prices to move out of that range.
“Prices in this zip code seem to have settled around a plateau. Look for a persistent down-shift in the Market Action Index before we see prices deviate from these levels.”Altos Research, February 2026
Here is the key insight: the MAI is not shifting down. It is shifting up, from 40 to 44 in a single month. That means the conditions needed to break the plateau to the downside are not present. What is actually forming is the setup for the next leg upward.
Menifee CA 92584 Market Segments: A Closer Look at Who Is Buying What
Not every home in Menifee is behaving the same way. Altos Research divides the market into four segments, each representing roughly 25% of active listings ordered by price. Understanding which segment aligns with your budget helps you set realistic expectations whether you are buying or selling.
| Segment | Median Price | Square Feet | Lot Size | Beds / Baths | Home Age | Days on Market |
|---|---|---|---|---|---|---|
| Top 25% | $849,000 | 2,925 sq ft | 8,000 to 10,000 sq ft | 4 bed / 3 bath | 8 years | 63 days |
| Upper Middle 25% | $698,000 | 2,683 sq ft | 6,500 to 8,000 sq ft | 4 bed / 3 bath | 8 years | 28 days |
| Lower Middle 25% | $615,000 | 2,125 sq ft | 6,500 to 8,000 sq ft | 4 bed / 2 bath | 14 years | 35 days |
| Bottom 25% | $549,000 | 1,746 sq ft | 4,500 to 6,500 sq ft | 3 bed / 2 bath | 25 years | 91 days |
The Sweet Spot Is the Upper Middle Tier
The $698,000 segment is the most competitive part of the Menifee market right now. These homes are selling in just 28 days on average, which in any market signals strong demand and limited negotiating room for buyers. These are newer builds averaging 8 years old with 4 bedrooms, 3 bathrooms, and comfortable lot sizes. They hit the mark for the primary buyer profile in Menifee right now, which is the growing family relocating from a higher-cost coastal market looking for space, quality, and value.
Entry-Level Buyers Have More Room to Negotiate
If your budget is closer to $549,000, you are in a segment where homes are sitting for an average of 91 days. That is a meaningful amount of time, and it puts more leverage in your hands. These are older homes, typically 25 years, with smaller footprints and lots. They often require more updating, but for buyers who are handy or who are investors looking for value-add opportunities, this tier offers the most room to negotiate price, credits, or terms.
Luxury Buyers Are Active but Patient
At $849,000 and above, homes are moving in 63 days. That is not slow. It reflects the natural pace of high-end buyers who take more time to decide, tour multiple properties, and arrange financing. The fact that new luxury listings are coming in at $849,000 with nearly 3,000 square feet on large lots shows that the upper end of the Menifee market remains healthy and desirable.
Should You Buy or Rent in Menifee CA Right Now?
This is the question we get asked constantly at Legacy Homes Realty, and the honest answer requires looking at both sides of the ledger.
The median rent in Menifee CA 92584 is $3,299 per month. Here is what that comparison misses. Every mortgage payment builds equity. Every rent payment does not. In a market where prices have held steady through a correction cycle and where the MAI is rising, buyers who purchase today are positioning themselves for the next appreciation cycle, not the last one. Renters who wait will face two headwinds: rising home prices and rising rents, because rental rates in tight markets tend to move with ownership costs.
The buy versus rent decision is deeply personal and depends on your timeline, financial situation, and goals. If you want to run through the numbers specific to your situation, schedule a call with our team and we will walk through it with you at no cost.
What This Means for Home Sellers in Menifee CA
If you own a home in Menifee and you have been wondering whether now is a good time to sell, the data says yes, with one important caveat. You need to price it right.
The 34% price reduction rate in this market is a warning. Those are sellers who came in too high and had to cut their price, which means longer days on market, more carrying costs, and a negotiating position that weakens over time. Buyers see price reductions as a signal that something is wrong, even when nothing is. You want to avoid that situation entirely.
Homes priced correctly in the $615,000 to $698,000 range are selling in 28 to 35 days right now. That is a fast, clean sale with real competition among buyers. If you want to understand exactly what your home is worth in this market, you can get a free home value analysis here. Our team analyzes comparable sales, current inventory, and your home’s specific features to give you a number you can actually use, not a generic algorithm estimate that can be off by tens of thousands of dollars.
You can also review our seller tips and our full home selling guide to understand every step of the process before you commit to anything.
What This Means for Home Buyers in Menifee CA
Buyers in Menifee right now are in a market that still works in their favor in the entry-level tier but requires fast action in the middle and upper segments. If you are targeting the $698,000 range, you need to be pre-approved, clear on what you want, and ready to move when you find the right home. With a median of 28 days on market, there is not a lot of time to deliberate.
The good news is that you still have options and you still have tools to negotiate with, particularly around terms, closing timelines, and credits. Our team has written a detailed guide on how to negotiate effectively as a buyer in today’s market that is worth reading before you make your first offer.
If you are not yet pre-approved or you are still trying to understand the process, start with our Guide to Buying a Home. It covers everything from first steps through closing day without the jargon.
And if down payment assistance is something you need to explore, we can connect you with those programs directly. Reach out to us here and we will point you in the right direction.
Why Families Keep Choosing Menifee California
Menifee was incorporated as a city in 2008 and has grown remarkably fast. It is home to more than 100,000 residents today, many of whom relocated from Los Angeles, Orange County, and San Diego in search of more space, newer homes, and a different pace of life. The city sits along the I-215 corridor in Riverside County, which gives residents reasonable commute access to Temecula and Murrieta to the south and the greater Riverside and San Bernardino employment base to the north.
The housing stock in 92584 skews newer. The top three market segments have average home ages of 8 to 14 years, which means buyers get modern floor plans, better energy efficiency, and less deferred maintenance than they would find in older suburbs. The schools are well-regarded, the neighborhoods are clean and walkable, and the outdoor recreation options in the broader Inland Empire are genuinely excellent.
For families making the move from higher-cost markets, Menifee represents a genuine quality-of-life upgrade. You get more square footage, a bigger yard, and a newer home for a price that would buy you a fraction of that space in Irvine or Carlsbad. That value proposition has not gone away, which is why demand here remains resilient even when broader market conditions tighten.
We also serve buyers and sellers in surrounding communities. If you are exploring your options beyond Menifee, we cover Murrieta, Temecula, Lake Elsinore, and Wildomar as well.
Menifee CA Real Estate Forecast: What Comes Next
The most honest forecast is this. Prices are stable, the Market Action Index is rising, and new listings are entering the market at prices above the current median. None of those conditions suggest a downturn is coming. They suggest that the plateau that has defined the past 18 months may be in its final stages.
The wildcard, as always, is mortgage rates. If rates stay elevated or move higher, affordability constraints will continue to cap how far and how fast prices can move. If rates start to soften, even modestly, the buyers who have been sitting on the sidelines will come back into the market quickly, and in a city with limited new construction supply and strong underlying demand, that almost always pushes prices upward.
What we know with confidence is that Menifee CA 92584 is not a market in distress. It is a market in equilibrium, leaning seller, with enough activity to give buyers options and enough pressure to reward sellers who price correctly and present their homes well. That is actually a healthy place for a real estate market to be.
Frequently Asked Questions About the Menifee CA 92584 Real Estate Market
What is the median home price in Menifee CA 92584 in 2026?
As of February 21, 2026, the median list price for single-family homes in Menifee CA 92584 is $650,000. The median price of newly listed homes is $698,000, which suggests sellers entering the market today have expectations slightly above the current overall median.
Is Menifee CA a buyer’s market or a seller’s market in 2026?
Menifee CA is a Slight Seller’s Market as of February 2026. The Market Action Index is 44, up from 40 the previous month. Any MAI reading above 30 indicates seller’s market conditions, and the upward momentum in the index signals that advantage is growing.
How many homes are for sale in Menifee CA 92584?
There are currently 164 active single-family home listings in Menifee CA 92584 as of February 2026. Inventory has been increasing, but sales velocity continues to outpace new supply, which is what keeps the MAI elevated.
How long do homes stay on the market in Menifee CA?
The median days on market in Menifee CA 92584 is 53 days, with an overall average of 89 days. However, this varies significantly by price range. Homes in the $698,000 range are the fastest-moving segment at just 28 days, while entry-level homes at $549,000 average 91 days before selling.
What is the price per square foot in Menifee CA 92584?
The price per square foot in Menifee CA 92584 is $288 as of February 2026 for single-family homes.
What is the average rent in Menifee CA?
The median rent in Menifee CA 92584 is $3,299 per month as of February 2026, based on Altos Research data for single-family homes in this zip code.
Will home prices in Menifee CA go up or down in 2026?
Current data points toward prices remaining stable or moving modestly upward in Menifee CA 92584. The market has been in a plateau near $650,000 since 2024, but the rising Market Action Index and strong sales-to-inventory ratio suggest upward pricing pressure is building. Mortgage rates remain the primary variable that could shift this outlook in either direction.
Ready to Buy or Sell a Home in Menifee CA?
Legacy Homes Realty has been helping buyers and sellers across Menifee, Lake Elsinore, Murrieta, Temecula, and Wildomar for years. We know this market because we live and work in it every day. When you are making a decision that involves hundreds of thousands of dollars, you want people in your corner who understand the local nuances, not just the statewide averages.
If you are thinking about selling, start with a free home value analysis to understand what your property is worth in today’s market. If you are buying, search current listings here or schedule a call and we will put together a personalized search based on your needs.
You can reach Josephine and Raj Sharma at (951) 314-4251 or visit our contact page to send a message. We are here to help you make a confident, informed decision in whatever direction makes sense for your life.
Market data sourced from Altos Research. Report reflects single-family home data for zip code 92584, Menifee, CA as of February 21, 2026. This post is for informational purposes only and does not constitute financial or legal advice. Real estate markets are dynamic and individual results vary. Legacy Homes Realty is a licensed California real estate broker. Broker DRE Lic# 01902724.
